Latham & Watkins LLP Orange County partner Charles Ruck and associate Michael Young were legal counsel to the financial advisors on two separate M&A deals this week, worth more than $1.4 billion.
Parkway Properties, Inc. and Thomas Properties Group, Inc. have announced that they have signed a definitive merger agreement pursuant to which Thomas Properties will merge with and into Parkway in a stock-for-stock transaction valued at approximately $1.2 billion, as detailed in the press release below issued by the companies. The merger agreement was unanimously approved by the board of directors of each company following receipt of fairness opinions, and the transaction is expected to close by the end of the fourth quarter of 2013, subject to the approval of stockholders of both companies, receipt of certain third party consents and other customary closing conditions. Partner Charles Ruck and associate Michael Young advised Morgan Stanley, the exclusive financial advisor to Thomas Properties, in the transaction.
C. R. Bard, Inc. has entered into a definitive agreement to acquire Rochester Medical, Inc., a leading developer and supplier of silicone urinary incontinence and urine drainage products, for a purchase price of $20 per share, or approximately $262 million in the aggregate to be paid at closing, expected to occur later this year, as detailed in the company press release below. This transaction is structured as a merger, has been approved by each company’s board of directors, and is subject to customary closing conditions, including approval of the shareholders of Rochester Medical and regulatory approvals. Charles Ruck and Michael Young represent Piper Jaffray & Co. as financial advisor to Rochester Medical, Inc. in the transaction.